Quick Payday Loan - To Take Or Not To Take!

Posted by Nick Niesen on November 8th, 2010

If you are in a sudden monetary fix, a quick payday loan can help you tide over it with grace and discretion! There are many of us who don't want to take monetary help from our friends or relatives. We feel uncomfortable taking such favors from our acquaintances. At other times, we find that our friends or family members are not willing to lend us money, or cannot afford to at that time! So it's always best to be self-dependent.

How To Get A Quick Cash Loan?

If all you need is a few hundred dollars to take you through a temporary financial crisis, you can easily check out the internet for various payday loan companies. There are thousands of them, each offering some kind of lucrative scheme to attract customers. With such a high competition in the payday lending market, the prices have pulled down considerably. And you can easily borrow $100-$1500 for a couple of weeks, for a flat interest from $15-$30 on every 100 dollars of amount.

1. Firstly, you will need to apply online for a quick cash advance payday loan. You will need to fill your contact details, SSN, bank details and employment information. You may have to fax copies of previous bank statement, last few pay stubs and a photo ID. But there are certain companies which offer quick loans that are faxless too.

2. Once approved, the money is electronically transferred into your bank account and is yours for two weeks. You can either give a post-dated check to the lending company, for the amount of the quick payday loan plus the interest on it, or give the company direct withdrawal permission from your bank account, on your subsequent payday.

The Advantages Of The Internet

Not only does the internet make it fast and easy to get a cash advance payday loan, it also makes the market more transparent. You can easily read up about the lending companies on the internet, you can find testimonials from people who have worked with these companies in the past, and you can also check for any complaints or pending legal issues against the companies in the local BBB.

The internet also makes it relatively easy to compare the rates and terms of different paycheck lending companies. You no longer need to visit 10 different cash-loan stores in person, and hear the same monotonous sales-pitch from each one. You can comfortably research and apply for a quick pay day loan right from your own house or office, and the money will be yours within 24 hours!